Patronis Names GEICO Claims Director to FIGA Board
The Florida Insurance Guaranty Association now has an auto insurance representative on its board. Florida Chief Financial Officer Jimmy Patronis announced last week that he has appointed D. Ryan West, the senior director of physical damage claims at GEICO, to …
Biden Seeks $3.1 Billion to Rebuild Baltimore’s Key Bridge
The White House is seeking roughly $4 billion in additional emergency funding from Congress for costs related to the collapse and repair of the Francis Scott Key bridge in Baltimore and to respond to other disasters that have occurred around …
Arthur J. Gallagher Acquires Cornerstone in California
Arthur J. Gallagher & Co. acquired Rancho Cucamonga, California-based Cornerstone Commercial & Personal Insurance Services Inc. Phil Hakopian, Allison Hakopian and their team will remain in their current location under the direction of Scott Firestone, head of Gallagher’s Southwest region …
Relation Insurance Acquires York Insurance in Maryland
Insurance brokerage Relation Insurance Services reports it has acquired the assets of York Insurance Services, Inc. in Forest Hill, Maryland. The transaction went into effect on May 31, 2024. Terms of the transaction were not disclosed. York owner Butch Tilley …
Report Keys on Impacts of Economic Changes on California Workers’ Comp
Projected changes to California workers’ comp claims frequency and severity due to industry mix of employment are negligible through 2026, while employment in most industries fully recovered from the initial pandemic related changes by the end of 2022, a new …
California Wildfire Outlook: ‘A Challenging Season for Firefighters’
While the official start to California’s wildfire season is still a ways off, the best forecast of what’s ahead may be to look back on the year so far, and so far it’s been far busier for firefighters than last …
People Moves: Higginbotham Promotes Russell to President, Private Client Services
Higginbotham announced the promotion of long-time executive team member and former Chief Operating Officer, Personal Insurance Mary Russell to the position of President, Private Client Services. This move marks the final division of the president title that Higginbotham Chairman and …
Texas Health System Loses COVID-19 Business Interruption Suit – 5th Circuit
A Texas nonprofit health system who purchased a specialized commercial property insurance policy is not covered for business interruption losses caused by COVID-19, a 5th Circuit Court of Appeals panel ruled, relying on existing precedent that COVID-19 does not physically …
A Potential Atlantic Hurricane Is About to Clash With a Cloud of Saharan Dust
A cluster of thunderstorms is threatening to become the Atlantic’s next tropical storm or hurricane — if it can survive a cloud of dust from the Sahara. The storms southwest of the Cape Verde islands have a 70% chance of …
Supreme Court Overturns Chevron Rule in Blow to Regulators
A divided US Supreme Court threw out a decades-old legal doctrine that empowered federal regulators to interpret unclear laws, issuing a blockbuster ruling that will constrain environmental, consumer and financial-watchdog agencies. The 6-3 decision, which came in a fight over …
Three Charged With Helping Agents Cheat on Florida Insurance License Exams
Three Miami people, two them licensed insurance agents, have been charged with operating an unauthorized insurance agent licensing school and taking license examinations in applicants’ place. At least five agents’ licenses have been suspended because of the investigation. Rainer Miguel …
Millions of Texans Live in Counties Without Hazard Mitigation Plan
LUFKIN — More than 100 Texas counties do not have a hazard mitigation plan, federal data shows, cutting off access to billions in non-emergency grants to help rebuild infrastructure after natural disasters. Of 254 counties in the state, 103 counties …
House Collapses Into Flood-Swollen River Near Minnesota Dam Amid Storms
DES MOINES, Iowa (AP) — A house that was teetering on the edge of an eroding riverbank near a Minnesota dam collapsed into the river in the latest jarring example of extreme weather gripping the upper Midwest. Video shows the …
Allstate, Nationwide Post Dramatic Q12024 Homeowners Loss Ratio Drops: S&P
In the topsy-turvy world of homeowners insurance, first-quarter loss ratios have been bouncing around for the last five years—from below 50 in 2020 to over 70 in 2021 and 2023, a new analysis shows. The S&P Global Market Intelligence analysis …
Ex-Staffers of Missouri Boarding School Face Suit Alleging Abuse of Students
JEFFERSON CITY, Mo. (AP) — Yet another civil lawsuit filed Wednesday against a Missouri Christian boarding school by a former student accuses staffers of forced child labor, physical abuse and tactics aimed at hiding mistreatment from authorities. The lawsuit, filed …
Onex Partners Completes Acquisition of R&Q’s Program Manager, Accredited
Accredited, the property/casualty program manager and subsidiary of R&Q Insurance Holdings Ltd., announced the completion of its acquisition by Onex Partners, the Toronto-based private equity company. The sale of the unit comes on the heels of R&Q’s decision on June …
California Workers’ Comp Med-Legal Costs up Sharply Under New Fee Schedule
Payments for medical-legal evaluations and reports used to resolve medical disputes in California worker injury claims rose more than expected since a new Med-Legal Fee Schedule (MLFS) took effect in 2021, according to a new study. The study by the …
Vertafore Report Highlights Agency Recruitment, Hard Market Challenges
Independent insurance agencies are struggling to find qualified job candidates, and nearly a third of agents surveyed for a recent Vertafore report said they’re finding that “young people just aren’t that interested in insurance.” Vertafore’s annual insurance workforce survey report …
Fisker to Recall Over 12,000 Ocean Vehicles
Electric-vehicle firm Fisker is recalling more than 12,000 Ocean vehicles to fix an issue where exterior door handles can stick and fail to open, the company said on Friday, marking its third recall this month. The U.S. National Highway Traffic …
Australia Approves ANZ’s $3.3B Buyout of Suncorp; Deal Will Help With Insurance Focus
Australia on Friday gave the go-ahead for ANZ Group’s A$4.9 billion ($3.26 billion) buyout of Suncorp’s banking business, clearing the deal to proceed after almost two years of scrutiny by financial regulators and treasury. Treasurer Jim Chalmers said the deal …